Holy cow, I wrote a book!
It's proxy season, which means I've been reading through
proxy statement after proxy statement.
The proxy voting rules for Allstate aren't very democratic.
Scroll down to "How votes are counted and discretionary voting
The thirteen nominees who receive the most votes
will be elected to the open directorships
even if they get less than a majority of the votes.
Okay, let's see, how many nominees are there?
Oh, exactly thirteen.
In other words: These thirteen people will be elected to directorships
regardless of what you do.
So of course I voted against all of them.
Later, I realized that I had fallen into their trap.
You see, the only way I could stop these people from becoming
directors was to withhold my vote and attempt to hinder
Under these rules, a "no" vote is as good as a "yes" vote!
Allstate isn't the only company to rig their elections.
(can't find proxy online)
have similarly sham elections.